Guernsey To Support EU's TAXE Committee Investigation

Guernsey will provide technical evidence to the European Parliament's TAXE Committee, at a meeting in Brussels on March 14, 2016.

Previously, Guernsey's Chief Minister met with the chair and members of the TAXE Committee. Guernsey and Jersey have been invited to contribute to the Committee's work.

Under its new mandate, which was approved for a six-month period in December 2015, the TAXE Committee is newly looking at harmful corporate tax regimes and practices at European and international level, after previously probing the advance tax ruling practices of European Union member states and the European Commission's handling of its investigations into those practices and into specific rulings.

According to Guernsey, the Committee will ask questions about recent developments at EU level and the recommendations put forward by the OECD, in particular in the area of tax avoidance, the exchange of information, and base erosion and profit shifting (BEPS).

Jonathan Le Tocq, Guernsey's Chief Minister, said: "At the start of this year EU Tax Commissioner Pierre Moscovici described Guernsey as an important partner of the EU in fighting tax evasion, tax fraud, and abusive tax avoidance. That view was based on the Commissioner having a fuller understanding of our actions through the meetings we have had with him."

"For that reason it is important for us to take this opportunity to continue to meet with the TAXE Committee. It will help us in seeking to ensure that they too have as full an understanding as possible about how Guernsey continues to meet the highest global standards on tax transparency and information exchange, demonstrating what the EU Commission calls good tax governance."

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